Canada’s main stock index managed to hang onto gains by the closing bell Tuesday, even as health-care and tech stocks threatened to override gains in mining stocks.
The TSX Composite Index gained 30.61 points to conclude Tuesday’s trading at 16,418.14
The Canadian dollar slipped 0.20 cents to 76.40 cents U.S.
Among materials, First Quantum Minerals towered over the competition, chugging ahead 46 cents, or 4.1%, to $11.68, while Nutrien gained $1.14, or 1.8%, to $64.98.
Industrials had a stellar day, too, as Air Canada got lift of $1.71, or 3.7%, to $47.43, while Westshore Terminals picked up 75 cents, or 3.5%, to $22.35.
Among energy concerns, EnCana advanced 25 cents, or 4.6%, to $5.69, while Enerplus added 29 cents, or 3.6%, to $8.33.
The health-care sector fell, weighed by a drop of 29 cents, or 4.6%, in shares of Canopy Growth to $26.95, while Aphria lost 23 cents, or 4.3%, to $5.04
Techs got bruised, as Exfo docked 17 cents, or 3.1%, to $5.27. Shopify, meantime, dipped $11.61, or 2.8%, to $411.14.
In the consumer discretionary field, Dollarama fell 67 cents, or 1.5%, to $44.41, while Great Canadian Gaming Company ditched 52 cents, or $41.09.
ON BAYSTREET
The TSX Venture Exchange docked 2.73 points to end Tuesday at 538.25
The 12 Toronto were evenly divided, with materials hiking 1.1%, while industrials and energy each climbed 0.7%
The half-dozen laggards were weighed most by health-care, sicker by 1.1%, information technology, down 1%, and consumer discretionary stocks, off 0.4%.
ON WALLSTREET
The S&P 500 touched a fresh record high on Tuesday before closing just below the flatline as investors looked ahead to key Federal Reserve meeting.
The Dow Jones Industrial Average subtracted 19.26 points to 27,071.46
The broader S&P 500 slipped 2.53 points from Monday’s record close to finish at 3,036.89, snapping a four-session win streak.
Experts note, however, that the index’s record high extended the second-largest ever bull market to 3,885 days
The NASDAQ Composite Index stumbled 49.13 points to 8,276.85
The report said the agreement may not be signed at a November summit in Chile. The report, however, cited a U.S. administration official saying if a deal is not signed then, it just means more time is needed to move forward.
Sentiment was also kept in check Tuesday by a 2.2% slide in shares of Google-parent Alphabet, which fell after the company posted earnings that missed analyst expectations.
Alphabet reported a profit of $10.12 per share. Analysts expected earnings per share of $12.42.
The U.S. central bank is largely expected to lower interest rates by 25 basis points. That would be the third time this year the Fed cuts rates. However, investors will also look for clues about the Fed’s policy decisions in the future.
Data shows 78% of the S&P 500 companies that have reported thus far beat analyst expectations. Investors are also increasing bets that at least a partial trade deal between China and the U.S. will be signed next month.
Prices for the benchmark 10-year U.S. Treasury were up slightly, lowering yields to 1.83% from Monday’s 1.84%. Treasury prices and yields move in opposite directions.
Oil prices slipped 39 cents to $55.42 U.S. a barrel.
Gold prices docked $4.80 to $1,491.00 U.S. an ounce.
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